NRIs have lots of surplus funds and want to invest in India but need the right infrastructure, a Dubai-based Indian-origin businessman has said, expressing hope that the new Indian government can provide that.
Paras Shahdadpuri, president of the Indian Business and Professional Council (IBPC) here, said the NRI community in Dubai was "ecstatic" about Prime Minister Narendra Modi being at the helm.
"We are very hopeful since he (Modi) took over. He is perceived as a cleaner politician with lots of out of the box ideas. We NRIs have lots of surplus investable funds and want to invest in India but we need the right infrastructure. And I think he can make that happen," said the former Indian Foreign Service (IFS) diplomat-turned-businessman who has been based in the region since the 1990s.
"The UAE is looking forward to India as a whole with great expectations. They have historic relations with India. They have been really disappointed with our political goings on. They feel China has scored over India," said Shahdadpuri, chairman of the Nikai Group of companies.
Shahdadpuri claimed he has held talks with senior government officials and has been told by them that Prime Minister Modi would visit Dubai within the next four-five months.
"I am told it will not be too long before Prime Minister Modi will visit, hopefully in the next four-five months," said Shahdadpuri.
"The UAE (Unites Arab Emirates) has been the No.1 trading partner of India and also been making decent amount of investments in India and a very important country of the GCC (Gulf Cooperation Council). Yet unfortunately there has been no prime ministerial visit for the past 33 years," he said.
"The last visit was in 1981 by then Prime Minister Indira Gandhi. I have brought this to the attention of all visiting dignitaries and ministers from India, including (external affairs minister) Sushma Swaraj who visited only two weeks ago," he added.
India-UAE trade is valued at over USD 44 billion, making the UAE one of India's leading trade partners.
Of the bilateral trade, approximately 80 per cent accounts from Dubai alone.
Earlier this year, India emerged as the top trading partner of Dubai in 2013 with a trade volume of USD 37 billion, representing a 10 per cent share of the total foreign trade of the emirate.
"They (Emiratis) have more affinity towards India and the Emirati community is looking forward to the Prime Minister's visit with great enthusiasm," Shahdadpuri said.
